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    WYNN RESORTS PARTNERS SPAR IN PUBLIC AND ACRIMONIOUS SPLIT

    21.05.12

    For more than a decade, they were the odd couple of gambling.

    In the early going, Stephen Wynn, the Las Vegas magnate with a thousand-watt smile, was on the rebound after his casino and resorts empire, Mirage Resorts, fell prey to a hostile takeover in 2000.

    To bankroll his comeback, he turned to a Japanese billionaire, Kazuo Okada, who had made much of his fortune manufacturing gaming machines for Japan’s notorious pachinko parlors — and who was adept at the wild ways of the mushrooming Asian gambling industry.

    Together they formed Wynn Resorts, with Okada eventually becoming the firm’s biggest shareholder.

    “I love Kazuo Okada as much as any man that I’ve ever met in my life,” Wynn effused during an earnings conference call in May 2008.

    The love affair is over. Wynn and Okada are now embroiled in a nasty corporate divorce, in one of the most rancorous public feuds the international gambling industry has ever seen.


    Source: U-T San Diego